Ranzure Networks, a Richardson, Texas-based provider of flexible, virtualized, cloud-based 4G/5G RAN solutions, completed a $13m Series A funding.
The round was co-led by LiveOak Venture Partners and Mitel. In conjunction with the investment, Venu Shamapant, co-founder and General Partner of LiveOak Venture Partners, will join Ranzure’s board of directors.
The company intends to use the funds to continue its product and solutions development for service providers and partners globally, to conduct R&D activities, and to build its sales and operations teams.
Led by Pardeep Kohli, President and CEO, Ranzure Networks provides solutions to deploy 5G networks. In addition to the funding, the company Ranzure will license Mitel Mobile technology in the area of Evolved Packet Core to support service providers as they build 5G networks for the Internet of Things.
Ranzure has development centers in Ottawa, Canada and Bengaluru, India.